{"id":46,"date":"2013-09-27T21:59:16","date_gmt":"2013-09-28T04:59:16","guid":{"rendered":"https:\/\/blogs.ubc.ca\/mico\/?p=46"},"modified":"2013-10-04T17:36:00","modified_gmt":"2013-10-05T00:36:00","slug":"46","status":"publish","type":"post","link":"https:\/\/blogs.ubc.ca\/mico\/2013\/09\/27\/46\/","title":{"rendered":"Sweet Corn"},"content":{"rendered":"

Week 1 gave me a crash course in futures trading and the tuition was not cheap ($9174). I was kind of discouraged and decided to stay out of the markets for a couple of days. So I continued to hold my corn and soybean from last week (both losing money) without making any transactions until halfway through the week. On Wednesday night, I surprisingly found that there was a sudden jump of commodity prices during the day. I thought there might be a chance for me to get my money back, so I decided to get back in action.<\/p>\n

After doing some research, I found that this is all because of something really good happened to wheat, and it consequently leads to an upswing of the whole grain market. The China National Grain and Oils Information Center<\/em> said in a report that China is likely to import 7.5 MMT of wheat in 2013\/14. If realized, it would be the most imports since 1995\/96. USDA currently forecasts China\u2019s imports at 9.5 MMT. Wheat futures for delivery in December jumped 1.9 percent to close at $6.705 a bushel at 11:15 a.m. on the Chicago Board of Trade, a four-week high. In addition, the production concerns in Argentina and improved prospects for U.S. exports also contributed to this increase. A frost early in the week could harm Argentina\u2019s wheat crop and reduce the world\u2019s exportable supply.<\/p>\n

\"\"<\/a>
This week’s wheat price<\/figcaption><\/figure>\n

Although surging wheat prices boosted corn futures, corn also has some good news about itself. In the latest \u201cU.S. Export Sales\u201d report, the USDA shows corn climbing for its third consecutive week to 640,100 metric tons (MT) for 2013\/2014, up 46 percent from last week.<\/p>\n

\"\"<\/a>
Corn Export Sales<\/figcaption><\/figure>\n

 <\/p>\n

So, I bought more corn at $4.55 per bushel on Wednesday night. At the same time, I put a limit sell order at $4.80 to sell all my corns. The corn price fluctuated a lot during the next 2 days (as low as $4.51) and finally got to $4.59 for a brief moment this morning. I think this is my biggest success this week which brought my portfolio % return from -14.42% back to -3.92%. Here is my trade and portfolio summary for this week:<\/p>\n

\"\"<\/a>
Week 2 Trade and Portfolio Summary<\/figcaption><\/figure>\n

I have learned two lessons this week:<\/p>\n

    \n
  1. Don\u2019t just read North America news, international news also play an important role in predicting the market\u2019s movement.<\/li>\n
  2. I got this one from Mark: Macro is really tough to call, so when lots of macro events are happening, just stay out of the markets. If you manage to keep your wits (don\u2019t be emotional), you will see great opportunity.<\/li>\n<\/ol>\n

    I will keep an eye on the release of the USDA\u2019s next Grain Stocks reports on Monday, September 30th<\/sup>. This will definitely cause another round of predictions, fluctuations, frustrations, and etc.<\/p>\n

    Here is a new website I found this week, hope it’s useful:\u00a0http:\/\/agfax.com\/<\/a><\/p>\n

    Looking forward to round 3.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Week 1 gave me a crash course in futures trading and the tuition was not cheap ($9174). I was kind of discouraged and decided to stay out of the markets for a couple of days. So I continued to hold my corn and soybean from last week (both losing money) without making any transactions until […]<\/p>\n","protected":false},"author":19744,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[837716],"tags":[],"class_list":["post-46","post","type-post","status-publish","format-standard","hentry","category-futures-trading-game"],"_links":{"self":[{"href":"https:\/\/blogs.ubc.ca\/mico\/wp-json\/wp\/v2\/posts\/46","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ubc.ca\/mico\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.ubc.ca\/mico\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/mico\/wp-json\/wp\/v2\/users\/19744"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/mico\/wp-json\/wp\/v2\/comments?post=46"}],"version-history":[{"count":9,"href":"https:\/\/blogs.ubc.ca\/mico\/wp-json\/wp\/v2\/posts\/46\/revisions"}],"predecessor-version":[{"id":59,"href":"https:\/\/blogs.ubc.ca\/mico\/wp-json\/wp\/v2\/posts\/46\/revisions\/59"}],"wp:attachment":[{"href":"https:\/\/blogs.ubc.ca\/mico\/wp-json\/wp\/v2\/media?parent=46"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/mico\/wp-json\/wp\/v2\/categories?post=46"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/mico\/wp-json\/wp\/v2\/tags?post=46"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}